"Bitcoins," Internet nerd libertarian monopoly money, crashes, no one surprised

[mvd10]

The technology behind the bitcoin is interesting, but I'm pretty sure it doesn't justify the current price of the bitcoin. Blockchain is a huge hype, adding blockchain to your companies' name does the same as adding .com to your companies name in the late 90s/early 00s (and we know how that ended). Meanwhile it also doesn't function as a proper currency. Virtually zero correlation between bitcoin-USD exchange rate and USD-insert any currency exchange rate according to some NBER paper. The same NBER paper from 2014 also outlined a bunch of other problems with the bitcoin that haven't been solved yet. And Paul Krugman beautifully explained how an economy with a bitcoin as main currency inevitably leads to deflation (which is a really bad thing). I'm sorry libertarians, but bitcoin won't conquer the world.